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Jewellery Industry Analysis

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Introduction
The Indian Gems and Jewellery Industry is the back bone of the economy by being one of the contributions towards the export led growth of India. The industry has gained global popularity because of its talented craftsmen, its superior practices in cutting and polishing fine diamonds and precious stones and its cost-efficiencies.
The two major segments of the industry are gold jewellery (covers around 80% of the jewellery market) and diamonds. India is one of the world 's largest manufacturers of cut and polished diamond with an aggregate contributed of approx. 60% of the supply in terms of value and 80% in terms of volume. The industry contributes more than 14% towards the total export in India and provides employment to 1.3 million …show more content…

In spite of the fact the sector being highly unorganized, having tough competition from China, facing the currency and exchange rate problem, dominance from the U.S. market and competition from the luxury goods, the outlook for the Gems and jewellery sector is positive. On account of global rescission and economic slowdown the sector has been facing many contemporary problems. As a result , the retailers both traditional as well as branded jewelers face a problem to cope up with the changing trends , customers likes and dislikes with respect to jewellery designs , customers changing preferences with the modernization and exposure to western culture lead to obsolesce in jewellery design in a dynamic fashion. With the view of the above facts there is a need of systematic and scientific study of changing trends and the factors responsible for such changes in gems and jewellery Industry in India. Therefore the problem entitled “CHANGING TRENDS IN GEMS AND JEWELLERY INDUSTRY” is chosen for the present study.

OBJECTIVES

To make the present study scientific and systematic the researcher has framed the following objectives:
1. To evaluate the changing pattern of gems and jewellery
2. To identify different factors affecting the changing trends in gems and jewellery in Indian market.
3. To evaluate the impact of such factors affecting the trends of gems and jewellery.
4. To analyze the preferences of customers with respect to jewellery design in Indian market.
5 . To analyze the jewellery which are in demand all over the year.
6. To suggest action plan for the retailers so cope up with the changing trends in Indian

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